Definition
The recurring amount paid to an insurance company to maintain coverage. Typically billed monthly, semi-annually, or annually.
Related Insurance terms
Insurance
A contract that provides financial protection against specific risks in exchange…
Deductible
The amount you pay out of pocket before insurance coverage kicks in. Higher dedu…
HSA (Health Savings Account)
A triple-tax-advantaged account paired with a high-deductible health plan: tax-d…
Term Life Insurance
Pure life insurance that pays a death benefit if you die within a set term (10, …
Whole Life Insurance
Permanent life insurance combining a death benefit with a tax-deferred cash-valu…
Universal Life Insurance
A flexible form of permanent life insurance allowing adjustable premiums and dea…
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Browse 350+ finance, crypto, and fintech terms across 12 categories in the Digital.Finance glossary.